Canoe Financial LP Has $163.74 Million Holdings in American Express Company $AXP

Canoe Financial LP decreased its position in shares of American Express Company (NYSE:AXP) by 26.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 492,943 shares of the payment services company’s stock after selling 179,338 shares during the period. American Express comprises 2.3% of Canoe Financial LP’s portfolio, making the stock its 13th biggest position. Canoe Financial LP owned about 0.07% of American Express worth $163,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Briaud Financial Planning Inc acquired a new stake in American Express during the 2nd quarter valued at $26,000. Access Investment Management LLC bought a new stake in shares of American Express during the second quarter worth $26,000. 1 North Wealth Services LLC acquired a new stake in shares of American Express in the first quarter valued at $37,000. Chung Wu Investment Group LLC acquired a new stake in shares of American Express in the second quarter valued at $37,000. Finally, Howard Hughes Medical Institute bought a new position in shares of American Express in the second quarter valued at about $38,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

Shares of AXP stock opened at $382.75 on Friday. The firm’s 50 day moving average price is $364.50 and its two-hundred day moving average price is $333.35. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49. The stock has a market cap of $263.66 billion, a PE ratio of 25.69, a PEG ratio of 1.83 and a beta of 1.14.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. The company had revenue of ($17,139.00) million during the quarter. As a group, analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s dividend payout ratio is presently 22.01%.

Insider Transactions at American Express

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the sale, the insider owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 57,515 shares of company stock worth $20,658,509. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AXP has been the subject of several research reports. Truist Financial raised their price objective on shares of American Express from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Monday. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target on the stock in a research note on Tuesday, October 21st. UBS Group boosted their price objective on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Morgan Stanley set a $370.00 price objective on American Express in a research report on Tuesday, December 16th. Finally, Wall Street Zen cut American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $335.55.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.